U.K. Materials Undervalued based on future growth

Hochschild Mining

Market Cap: UK£2.6b

A precious metals company, engages in the exploration, mining, processing, and sale of gold and silver deposits in Peru, Argentina, the United Kingdom, Canada, Brazil, and Chile.

Pan African Resources

Market Cap: UK£2.5b

Engages in the mining, extraction, production, and sale of gold in South Africa.

RHI Magnesita

Market Cap: UK£1.3b

Develops, produces, sells, installs, and maintains refractory products and systems used in industrial high-temperature processes worldwide.

AltynGold

Market Cap: UK£352.6m

Engages in the exploration and development of gold producing mine in the Republic of Kazakhstan.

Central Asia Metals

Market Cap: UK£318.5m

Operates as a base metals producer.

Sylvania Platinum

Market Cap: UK£275.7m

Engages in the retreatment of platinum group metals (PGM) bearing chrome tailings materials in South Africa.

Essentra

Market Cap: UK£274.0m

Engages in the manufacturing and distribution of plastic injection moulded, vinyl dip moulded, and metal items in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

ACG Metals

Market Cap: UK£252.7m

Produces gold and silver in Turkey.

Serabi Gold

Market Cap: UK£227.2m

Engages in the evaluation, exploration, and development of gold and other metals mining projects in Brazil.

Michelmersh Brick Holdings

Market Cap: UK£78.5m

Together its subsidiaries, manufactures and sells bricks and brick prefabricated products in the United Kingdom and rest of Europe.

Petropavlovsk

Market Cap: UK£47.5m

Petropavlovsk PLC operates as a gold mining company in the Far East of Russia.